Imagine an actual self made billionaire in office vs a fake billionaire game show host or a lifelong politician.
Mark Cuban for President
- Thread starter nytigerfan
- Start date
He's not paying " his fair share" .
Mark “not worried about inflation” Cuban?
He was literally laughing at people worried about inflation. Tone deaf
$288,000,000 paid in taxes in one year. That is $287,999,000 more than your poor, worthless ass will pay in your lifetime.
Link?
Looks like the top federal rate is 33%. Provinces add another 12-21% to the top rate though. Still the highest combined marginal rate is about 54%, or 10% higher than my combined marginal rate in South Carolina.
Not sure how you get to 66% though.
Income tax rates for individuals - Canada.ca
Information on income tax rates in Canada including federal rates and those rates specific to provinces and territories.
Link?
Looks like the top federal rate is 33%. Provinces add another 12-21% to the top rate though. Still the highest combined marginal rate is about 54%, or 10% higher than my combined marginal rate in South Carolina.
Not sure how you get to 66% though.
Income tax rates for individuals - Canada.ca
Information on income tax rates in Canada including federal rates and those rates specific to provinces and territories.www.canada.ca
News came out late yesterday afternoon. And it is capital gains tax, which maxes out around 28% here in the USA I think? (Short term Capital Gain + Obamacare tax = roughly 28% i think)
"Under the new measure, people realizing capital tax gains of more than C$250,000 ($180,804) will pay tax on the excess at a rate of 66.7%, up from 50% at present. Similarly, all capital gains realised by companies and trusts will be taxed at 66.7%."
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Yikes! That is completely ridiculous. And to think, all to pay for socialist dreams like single payer healthcare. In my other thread, Canada’s healthcare system was shown to be quite poor, resulting in lower healthcare access then most other advanced countries.
I'm curious if our resident lefites would supports a 66% capital gains rate here in the US?
@dpic73
@nytigerfan
A 66% effective rate on earnings over $180k? Absolutely not.
A 66% effective rate on earnings over $5mm/year? Yes, I have no issue with that.
Why? Just from a fairness standpoint, it's simply wrong to have such a punitive tax on anyone.
I don't believe the government is efficient in their use of tax funds, but I do believe it is our duty as Americans to pay them. I think that an effective rate of 50% (which was their old figure) was sufficient, but honestly losing another $.16 of every dollar over $5mm to the taxman isn't going to upset me too much. At that point it's all just marginal.
I suspect it's a product of the way I was raised. I come from a very upper class household, but my parents always instilled in me the concept that it's your duty to help those out who can't help themselves. If such a policy was enacted in the US, i'd be interested in seeing the allocation split between federal/state for the 66%, as I believe more value would come from state/local getting a larger share than federal.
Don't get me wrong, I think the tax system is a catastrophe, and the gov't suffers from far too much inefficiency, bloat, and uncontrolled spending. I, unlike what seems to be 90% of the posters on the RT, don't have an issue with entitlements, though. Even if there are people abusing the system (which is undeniable), I take solace in knowing that there are people getting the help they need from my tax dollars.
Fairness isn't something I really care about. It's not fair that I grew up in a stable household in an affluent area with no worry about where my dinner was going to come from that night unlike so many others. It's not fair that I was able to focus on academics instead of working multiple jobs in HS so I could get a full ride to Clemson, unlike so many others. Those advantages gave me a leg up on so many other people, so if I have to pay a little bit more taxes because of it then I'll do it.
*Doesn't believe the government is efficient.
*Thinks the tax system is a catastrophe
*The Gov suffers from bloat, inefficiency and uncontrolled spending.
- Is OK with a 66 taxrate.
Make it make sense.
I wouldn't expect you to understand it. You've shown that you have the processing power of a goldfish.
What it means is that he is a moderate, not an extremist like yourself.
Moderates know that the government is not perfect, and we would like to see modest reforms. You on the other hand, only see the extremes. You want to burn it all down, with no alternatives in place.
If catturd posts one story about someone taking advantage of the food stamps program, you want to burn it down. Moderates look at all of the good the program also does, and we want common sense reforms.
But when you see MTG borrowing hundreds of thousands of dollars from PPP loans while she is serving in congress and not paying it back, you will defend her all day.
Moderate is 66% tax rate? Make it make sense!
This is why we should just divorce because anyone who thinks taking 2/3 of someone else's earnings is not anywhere close to moderate.
**No person should pay back their ppp loan. You are a fvcking idiot if you paid back your PPP loan.
There were a lot of people who lied their asses off to get PPP loans, they should absolutely pay them back.
I understand your perspective, but that is a very personal viewpoint. One better reflected in terms of voluntary charitable giving, not mandatory confiscation of someone’s earnings.
That is my point.
If you paid back your PPP loan, the only thing you were doing is funding fraudsters. You were a fvcking idiot if you repaid your PPP loan. Not one person should have paid back their PPP loan.
The whole purpose of the PPP loan was to get cash into the hands of the people. The government desperately wanted you to have that money at the time. Pick a million other reasons to dislike MTG but that ain't one.
No argument here wrt charitable giving, but that's also why i stipulated local/state would be more beneficial than federal. My local tax money going to road improvement, public school funding (which shouldn't be based on local taxes, but that's a discussion for another day), high speed infrastructure, municipal LEO/firemen, etc I find to be more beneficial.
I, also, don't think wrt to entitlements/welfare that voluntary contributions would bring in the same amount of funding as taxes for it do; thus lowering the amount of people who are helped.
Serious question. How much more to you give to the treasury dept now above what you have to? If you truly feel like increased taxes are fair, why do you not already give what you think is fair?
This is what just baffles me whenever I hear a politician or voter support the govt taking more of our $$ from us in the name of fairness or duty. Have you just been willingly ignoring that duty or fairness all this time and are just waiting until someone(the govt) makes you fulfill that duty? It's such a disingenuous argument. You should already be giving whatever you think is "fair".
This is a bad argument. You should reread my post because you clearly didn’t understand it. The whole “well why don’t you voluntarily pay more money!!” argument is something I’d expect from a child. I also never said it’s “fair” for others to pay higher amounts. That was a statement scotchtiger made that I was addressing.
I merely pointed out arguing about fairness is pointless because life isn’t fair. I said given the advantages I grew up with and was able to enjoy thanks to the blind luck of growing up in an affluent home and being able to capitalize on said advantages, I don’t mind paying a high tax rate. I’m not trying to tell everyone what else to do; I was pointing out my thought process and what led me to have it.
I can at least respect this take while not totally agreeing with it and I come from a very poor family. You explained your position and the reasoning behind it though in a believable way.
Mark Cuban = Successful Businessman
dumpy donny trump = failed businessman, many times over
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anon_gwg7wjjhm2lka
Guest
It’s funny how the outrage around DEI and Woke is always from people who have no idea what these two terms mean.
Me watch fox news. me repeat what me see on fox news.
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anon_gwg7wjjhm2lka
Guest
That’s it. It’s their identity. It goes beyond team sports and actually defines who they are since they aren’t smart enough to think independently.
It's obvious you're a good guy who really wants to see people do well. I applaud you for that.
Almost anyone can do for themselves. My wife came from a broken home where she had to take care of her sister since her mom couldn't. She didn't even meet her Dad until she was 16 years old. It was common that at least one utility or more out due to non-payment of bills. Dental care for her was her mom deciding it would be cheaper to have permanent teeth pulled if she had a cavity. She also had to endure cancer in her early 20's. No government program was going to fix all this. She had to do it herself through hard work and determination to succeed.
My wife also put herself through school and got a masters degree in education. We have busted our asses to build our lives and have something great to share. She's such an inspiring person.
All this is to say instead of giving people checks (which clearly doesn't work after over $30T being spent and no real improvement) perhaps we should try something new that doesn't involve so many handouts? The vast majority of the money you say you want to give to help others gets funneled into massive federal bureaucracies and never comes out. It just pays all the people who work there that are 100% financially invested in making sure the problem NEVER gets solved.
Elon Musk had a vision of starting a company. He was a/the pioneer in electric vehicles. His company now employs around 140,000 people. His idea now provides income, opportunity, benefits and financial stability to that many people. He gave stock options to his employees and there are a great number of millionaires at Tesla because of that. This is the quintessential American story and it should be celebrated. I don't care what he pays in taxes. He's done vastly beyond his "fair share" for Americans. But the left chooses to demonize him and that's just criminal and flat out stupid.
There are countless Americans who have done things like this but on much smaller scales and they also are part of what makes this country go. They do more for people than any government agency ever could. That people in government cast judgment on what they should pay is appalling.
Also, last thing I wanted to ask you...
You say it isn't fair that you grew up the way you did. How is it you think a check or some offering can fix that? It's just not possible. Life isn't fair and no government program or tax offering is going to fix that. I don't know if this is the case for you, but so many people who have done well for some reason feel guilty and then say I'll write a check to assuage my guilt. That's not helping anyone and all that happens is the money is wasted on people who again, want to make sure the problem never gets solved.
